National Banks and Federal Savings Associations Encouraged to Work With Customers Affected by Recent Extreme Weather

WASHINGTON—The Office of the Comptroller of the Currency reminds national banks and federal savings associations of guidance to assist financial institutions and customers affected by extreme weather, such as the recent tornadoes in the south central and central United States.

The OCC recognizes the significant effects of natural disasters on individuals and businesses, and that prudent efforts to assist customers in areas hit by the disasters should not be subject to bank examiner criticism. OCC Bulletin 2012-28 provides supervisory guidance for banks and thrifts responding to disaster conditions in their communities.

The OCC encourages national banks and federal savings associations to consider various alternatives to assist affected customers that may include:

waiving or reducing ATM fees,

temporarily waiving late payment fees or penalties for early withdrawal of savings for affected customers,